Section 259NDA Meaning of “qualifying institutional investor” etcF1 F2

(1)

This section has effect for the purposes of this Part.

(2)

References to “qualifying institutional investor” have the meaning given by paragraph 30A of Schedule 7AC to TCGA 1992.

(3)

A qualifying institutional investor is “based” in a territory—

(a)

if it is resident for tax purposes in the territory, or

(b)

where it is not resident anywhere for tax purposes, if it is established in the territory.

Annotations

F1: Pt. 6A inserted (with effect in accordance with Sch. 10 paras. 18-21 of the amending Act) by Finance Act 2016 (c. 24), Sch. 10 para. 1
F2: S. 259NDA and cross-heading inserted (with effect in accordance with Sch. 7 paras. 37-39 of the amending Act) by Finance Act 2021 (c. 26), Sch. 7 para. 29